Found Potential Motivated Sellers! Now what?
Hey Guys! So I'm still on the journey to getting my first deal. Today I connected with a great real estate agent here in Memphis, and actually got her to send me a list of expired listings in areas that I know people are buying. She narrowed the search to two zip codes and and it came back with over 3,000 listings! Which is great! There has to be at least a couple good deals in there. Right?
So here's my question(s).... How exactly do I process this information to find which listings are good deals? Should I begin marketing to all of them or is there a way to look at a listing and know it's a good lead to pursue? Maybe start with the ones with the highest DOM? How do I look at the info on the listing and begin running the numbers to come up with my max offer?
Also, since these are listed in the MLS, can I trust the listing price as an accurate ARV? Or should I look somewhere else for comps to find the ARV of each listing?
I know thats actually a lot of questions, but any suggestions or tips would be GREATLY appreciated!
Most Popular Reply
Most expired listings still have clauses that bind that seller to the agent for a certain period of time after it expires. Some sellers will tell the agent they will not agree to that so it is a hit or miss situation.
Good luck
- Curt Davis
